ValuEngine upgraded shares of CROWN CASTLE In/SH SH (NYSE:CCI) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.
A number of other brokerages have also recently issued reports on CCI. Guggenheim reiterated a buy rating and issued a $120.00 price target on shares of CROWN CASTLE In/SH SH in a research note on Friday, July 20th. Citigroup upped their price target on shares of CROWN CASTLE In/SH SH from $109.00 to $110.00 and gave the stock a neutral rating in a research note on Tuesday, July 24th. TheStreet cut shares of CROWN CASTLE In/SH SH from a b rating to a c+ rating in a research note on Wednesday, October 17th. Morgan Stanley upped their price target on shares of CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the stock an overweight rating in a research note on Thursday, August 16th. Finally, UBS Group set a $120.00 price target on shares of CROWN CASTLE In/SH SH and gave the stock a buy rating in a research note on Friday, September 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $117.67.
NYSE:CCI opened at $109.34 on Wednesday. The stock has a market capitalization of $45.36 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.34 and a beta of 0.35. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.33. CROWN CASTLE In/SH SH has a 1-year low of $98.85 and a 1-year high of $114.97.
CROWN CASTLE In/SH SH (NYSE:CCI) last released its earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.06. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. CROWN CASTLE In/SH SH had a net margin of 10.07% and a return on equity of 4.22%. The company’s revenue was up 29.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. On average, analysts forecast that CROWN CASTLE In/SH SH will post 5.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a dividend of $1.125 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $4.50 annualized dividend and a yield of 4.12%. This is a boost from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. CROWN CASTLE In/SH SH’s dividend payout ratio is currently 86.60%.
In related news, Director J Landis Martin bought 6,100 shares of the stock in a transaction on Tuesday, August 7th. The shares were acquired at an average price of $110.14 per share, for a total transaction of $671,854.00. Following the purchase, the director now owns 107,822 shares of the company’s stock, valued at $11,875,515.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert E. Garrison II sold 2,451 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $113.96, for a total transaction of $279,315.96. Following the transaction, the director now owns 23,100 shares in the company, valued at approximately $2,632,476. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CCI. Kaizen Advisory LLC lifted its stake in CROWN CASTLE In/SH SH by 142.5% during the 2nd quarter. Kaizen Advisory LLC now owns 941 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 553 shares during the period. Sun Life Financial INC lifted its stake in CROWN CASTLE In/SH SH by 443.0% during the 2nd quarter. Sun Life Financial INC now owns 1,124 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 917 shares during the period. Bbva Compass Bancshares Inc. bought a new position in CROWN CASTLE In/SH SH during the 3rd quarter valued at about $160,000. Cullen Frost Bankers Inc. bought a new position in CROWN CASTLE In/SH SH during the 2nd quarter valued at about $201,000. Finally, Ninepoint Partners LP bought a new position in CROWN CASTLE In/SH SH during the 3rd quarter valued at about $204,000. Institutional investors and hedge funds own 94.91% of the company’s stock.
CROWN CASTLE In/SH SH Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service bringing information, ideas and innovations to the people and businesses that need them.
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